Oscar-winning actress and entrepreneur Reese Witherspoon has sold a 70% stake in her Southern-inspired fashion and lifestyle brand Draper James to private equity firm Consortium Brand Partners.
Witherspoon launched Draper James in 2015 as a direct-to-consumer brand selling bright, bold printed clothing, accessories and home goods inspired by her Southern roots. The company has since expanded to open 3 retail stores and enter an exclusive partnership with Kohl’s nationwide in 2022.
While financial terms were not disclosed, Witherspoon will remain a partner and board member in the business following the acquisition. Consortium Brand Partners plans to expand Draper James into new retail channels including big box home improvement, department stores, pet stores and overseas.
This sale comes two years after Witherspoon sold her media company Hello Sunshine to a Blackstone-backed firm in 2021 for over $900 million. Hello Sunshine was behind several of Witherspoon’s hit TV projects like “Big Little Lies” and her book club.
Witherspoon said she is excited to join forces with Consortium to bring more “Southern joy into everyone’s homes and wardrobes.”